Wednesday, July 9, 2014

In the wake of the 2008 economic recession in the United States, Americans found post-secondary education to be more appealing, a better option than trying to jump directly into a faulting job market. The Lumina Foundation found in April that there is a steady increase in college enrollment and the attainment of college degrees, approximately 0.7% per year, higher than at any point before the recession. Individuals found college to be a safer investment than simply jumping into the job market--in mid-2014, is this still the situation?

FiveThirtyEight blog posted new analysis on Tuesday, July 8th that indicates that job openings in the United States are increasing, and those seeking new employment face their best odds now than at any other point during the economic recovery. According to Ben Casselman, FiveThirtyEight blog's chief economics writer, finds that more U.S. companies are hiring new workers. Specifically, the Bureau of Labor Statistics notes that 4.6 million job openings were posted in the month of May, up 19 percent from this point last year. This is good news for recent college graduates, as the likeliness of finding employment straight out of their undergraduate or graduate work is higher now than at any other point during the U.S. economic recovery.

The report also shows that layoffs are at a near all-time low, at least since 2001, when the government started keeping track of layoff rates in the United States. An even better indicator of workers' confidence is the rate of voluntary quits in the job market, which is at an all time high. This means that employment attrition is less of a concern than it was just a few years ago--a new college graduate out of UT Tyler can leave the school with more confidence that they will find gainful employment in their field, and keep that employment for the long term.

Rising openings and falling layoffs indicates a lack of competition for employment positions in a new graduate's particular field, a good sign for those concerned that they would not find a job in the area of their collegiate study. While this means that the college investment was a smart choice for recent graduates, it does not mean that college is less of a strong option for those still in high school. While employment opportunities might be increasing right now, the report does not indicate the level of recent education required to acquire these positions. This means that those in their senior year of high school should continue to highly consider pursuing a college degree, as it is still the safest investment following your high school graduation.

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